Securities Operations Service Specialist 5 - Cash Management & Funding

Job Description

WFS Operations

Mon – Fri – 5:00am – 2:00pm with flexibility to work overtime.

The Cash Management & Funding team (CMF) sits within WFS Settlement Operations and directly supports the Funding & Liquidity Management (FLM) front office located in Charlotte & NY. FLM is responsible for managing the liquidity and funding requirements of the broker dealer Wells Fargo Securities (WFS) and businesses operating under its umbrella.

CMF’s primary responsibilities include:

  • Projecting short term multi-currency funding requirements for the WFS legal entity
  • Investigating intraday projection vs. actual variances and making adjustments to projections as needed
  • Performing cash management functions including funding and reconciliation for Wells Fargo accounts in supported legal entities
  • Allocating and optimizing collateral requirements for all WFS Tri-party repo obligations
  • Executing client and inter-company cash transfers
  • Partnering with FLM and other internal business partners to onboard new business as needed

Candidate will be responsible for daily cash and collateral management in support of FLM. This will include the following responsibilities:

  • Calculating daily multi-currency and multi-correspondent bank cash projections and resolving intraday variances with front office personnel
  • Reconciling and funding individual Well Fargo bank accounts same day to ensure account balances close in line with predefined targets
  • Researching and reconciling daily cash breaks
  • Acting as liaison between settlement and the various support groups and trading desks (Sales desk, Middle Office, Repo desk, etc) to escalate and support operations business in a timely fashion
  • Participating in individual and group projects to drive process improvement and support Corporate business initiatives.

Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.

Required Qualifications

  • 5+ years of experience in one or a combination of the following: customer service, operations, financial services, accounting, business processing, analytical, financial, clerical, or call center

Desired Qualifications

  • FINRA registration including Series 7 (or FINRA recognized equivalents)
  • FINRA registration including Series 99 (or FINRA recognized equivalents)
  • Ability to navigate multiple computer systems, applications, and utilize search tools to find information
  • Ability to work independently, proactively, innovatively, and creatively while exercising sound judgment
  • Effective organizational, multi tasking, and prioritizing skills
  • Excellent verbal, written, and interpersonal communication skills
  • Intermediate Microsoft Office skills
  • Solid problem solving skills
  • Strong analytical skills with high attention to detail and accuracy

Other Desired Qualifications

  • Undergraduate degree in Finance, Accounting, Operations, or Economics
  • Previous experience working in a Financial Services environment
  • Strong problem solving skills and ability to quickly assess the urgency around a problem or situation and escalate if needed
  • Strong analytical and technical skills to drive process improvements
  • Ability to work under pressure in a deadline oriented environment with minimal supervision
  • Ability to multitask while demonstrating strong attention to detail
  • Solid communication skills including ability to organize verbal and written communication to clarify purpose and importance; stress major points and follow a logical sequence
  • Expertise in Fedwire and SWIFT messaging and formatting
  • Solid understanding of Foreign Exchange settlements and reconciliation
  • Solid understanding of Money Market products including Triparty Repo
  • Solid understanding of ledger versus statement cash reconciliations (We side vs. They side)
  • Previous experience working in a Broker Dealer environment and knowledge of the securities industry
  • Knowledge of Broadridge systems such as IMPACT and BPS
  • Previous experience with Smartstream reconciliation application TLM and/or CMS
  • Previous experience working in a cash management environment.

Job Expectations

  • Registration for FINRA Series 7 must be completed within 120 days of hire date. FINRA recognized equivalents will be accepted.
  • Registration for FINRA Series 99 must be completed within 120 days of hire date. FINRA recognized equivalents will be accepted.
  • Obtaining and/or maintaining appropriate Financial Industry Regulatory Authority (FINRA) license(s) is required for ongoing employment in this position. In addition state registration, specific product licenses or SAFE licensing may apply. Additional requirements include meeting enhanced financial fitness and criminal background standards. Wells Fargo will initiate the FINRA review process at the time of offer acceptance.


All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.

Relevant military experience is considered for veterans and transitioning service men and women.

Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.


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